Foreign Exchange

[spotpush]

Hi,

Does anyone have any experience of working in the foreign exchange business?

In particular i'd like to find out/understand how companies like the one's listed below actually conduct business. Where to they get their currency? Do they hold large quantities in cash? If they do hold it in cash won't the fluctuations in exchange rates erode it's value to the business? Are these companies able to buy currency at a cheaper rate than the 'Tourist', if so what price? etc

(can't post full web links yet)

interchangefx.co.uk
fx-foreignexchange.com
fairfx.com


Understand if people don't know the exact answers but I’m struggling to ascertain how this industry works so any advice would be very much appreciated

 

[spotpush]

Anyone out there working in FX transactions...

Any advice on how I can find out how these companies operate?

If I hired a researcher/corporate investigator would they be able to find out?

 

[vvaannmmaann]

Google "How Forex works",I did and I found this.
http://www.traderslog.com/how-forex-works/
Plenty of others offering information.
Also this site has a search function.Try typing Forex into the search box.Plenty of stuff in there for you.
Personally I wouldn't touch it with a barge pole.Do you own homework and see what you think.

 

[JessicaAutumn]

It is the nature of money as commodity which gives foreign exchange trading its very different character. It is one of the highest liquidity markets, meaning that it is easy to turn your holdings into useable cash with relatively little delay. In addition, because you are buying and selling money all over the world, you can be active any time during the week. The market isn't active on the weekends, but it is active literally 24 hours a day on every non-weekend. There may be temporary closures or suspensions for country holidays, but that has minimal impact on the whole system.

 

[spotpush]

Thanks for the replies but what I'm looking at is a little bit different from speculating in the FX market for quick losses (or profits if your lucky) i want to trade physical currency for people who emigrate or need currency to buy property overseas.

Like these....

interchangefx.co.uk
hifx.co.uk

and not the likes of

fxcm.co.uk

 

[vvaannmmaann]

Ok I understand now.
Unless you have some serious financial backing,several years of experience,serious computing power,ready access to banks,a well respected name in the financial world and a knockout USP - then forget it.
It's not going to happen.